HSBC Holdings Share News (HSBA)

Financial regulators have reached a deal to force global banks to double the spare cash they hold in the biggest shake-up since the economic crisis nearly brought down the system, the Telegraph reports.The new rules, to be phased in between 2015 and 2018, demand that banks hold 4.5% of common equity and retained earnings. The current minimum for core Tier 1 capital is 2%. They also insist on a "buffer" of 2.5% to be built up in good times, taking the total capital required to 7%. Banks can dip into the buffer in times of hardship, but if so, they must restrict dividend payments.Britain's banking industry has warned that new rules aiming to make the financial system more stable spell the end of cheap loans and mortgages. Banks worldwide will be forced to bolster their capital buffers dramatically after regulators reached a landmark agreement last night, the Times adds.Deutsche Bank revealed plans for a higher than expected capital increase of at least €9.8bn ($12.5bn), pre-empting global regulatory demands for banks to strengthen their balance sheets, and announced a takeover offer of rival Deutsche Postbank, the FT reports.Global sales of the iPad are forecast to hit 28m next year, with analysts also predicting Apple's device will be "the in-demand gadget" for shoppers this Christmas. J Um Maynard, an analyst with UBS, said the momentum the iPad had generated since its launch in April showed no signs of slowing, adding that his estimate of 28 million sales in 2011 "could still be conservative", the Independent reports.The former chief executive of HSBC has accused the bank of "gambling with the group's future" by looking externally for a new chairman, days after Barclays boss John Varley turned down the job. Sir Keith Whitson believes the board should concentrate on internal candidates steeped in knowledge of the company. This may be seen as tacit support for Michael Geoghegan, the current chief executive, or John Thornton, a board member and ex-Goldman Sachs banker, the Telegraph reports.Executive bonuses surged last year after many FTSE 100 companies set the bar too low. Payments by the country's top companies rose to 98% of directors' basic salaries, from 95% previously, despite harsh trading conditions, according to a survey by the accountant Deloitte. Among the country's 30 biggest corporate players, average payouts jumped to 140% of salary, almost 20% higher than before, the Times reports. BAE Systems is preparing to auction part of its British commercial aerospace business for as much as $2bn. Europe's biggest defence contractor has hired the American banks JPMorgan Chase and Wells Fargo to advise as it asks for first-round bids for two units by next week. These are believed to be one that builds hybrid propulsion systems for buses and lorries and another that sells aircraft engine controls for General Electric, the Times reports.Union leaders signalled an autumn and winter of unrest as they set themselves on a collision course with the Government over the proposed public spending cuts. As hundreds of activists gathered in Manchester for the Trades Union Congress, which begins today, union bosses, led by the usually moderate Brendan Barber, general secretary of the TUC, called for demonstrations on the streets against government policy, the Times reports.Uncertainty has emerged over Mears' agreement to acquire contracts from Connaught, its collapsed rival, as the social housing maintenance group scrambles to finalise the details. Investors in Mears had expected to be told on Monday morning that the company picked up about eight of the former FTSE 250 company's contracts after Bob Holt, executive chairman, said on Friday night he had sealed the deal, the Times reports.